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jeanne was there for the entire jury selection process. big news here on cnn, george zimmerman jury selected and also the dow down, tanking down. "the lead" with jake tapper starts right now. the closing bell on wall street and not a moment too soon to stop that ugly bleeding. i'm jake tapper and this is "the lead." breaking news in the money lead. do yourself a favor. do not check your 401(k) right now. whether or not you know what taper means or a bernanke, they're affecting you as the dow heads toward the center of the earth. what should you be doing about it? >> the pop culture lead. he portrayed one. most iconic tv characters of all time, james gandolfini, who brought vivid life to tony soprano. how would he want you to remember him? you'll meet people who knew a special side of him you probably didn't know about.
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>> and the politics lead. they're into the waiting for her to get bored from being a lady of leisure. they want to stop hillary clinton now before she can even decide on 2016. a new web site, the hillary haters. i'm jake tapper. welcome to "the lead." we'll begin with the money lead. wall street's worst day of 2013, a real meltdown. the closing bell just moments ago could not come soon enough. the dow taking a swan dive, dropping a queasy 352 points. this was after the dow already dropped 200 plus points yesterday, all after fed chairman ben bernanke nearly hinted the government was going to slow down the gravy train by tapering off the stimulus it stumps into the economy, sometime in the near future. he hasn't even announced it yet. i want to get to felicia taylor at the new york stock exchange. explain what happened there to
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trigger the second day of selloffs. >> the debate has begun as to when that tapering, that slight pullback, and i do mean slight. he's not taking all of the stimulus out of the market at once. traders discussing whether or not it's going to happen in the next month or possibly 2014, what that does to the market. we were down about 380 points before the closing bell. so we have come back a little bit and that is a good sign. but some traders say these kind of selloffs could continue because the debate is going to continue. but what we've really got to focus on is the economy. are we seeing enough positive signs in the economy? so far it's a very mixed picture for the federal reserve to feel confident enough to begin that slow tapering down. the answer is not really. they need at least three monies of positive economic news for him to begin that stimulus pullback. jake? >> thank you so much. so what do the markets mean for you?
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we're joined now by my friend erin burnett and anchor of "outfront." erin, i'll start with you. this market drop, how big of a deal do you think it is? >> it's interesting when you look at it numerically, it's the biggest two-day combined drop since we've seen in november. that calculated just before the close. when you look at what's happened since the so-called quantitative easing, the fed pumping money into the economy, every time the market thought that was going to stop, stocks started to selloff. so stocks have really become addic addicted to the free money ben bernanke has been pumping into the system. if things are getting better, that's good news.
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but pro veryou may see the mark off because of that good news. the question is are we really ready for that in terms of the economy? >> andy, for our viewers at home, for those who have investments, how concerned should they be about the markets right now? >> it's obviously something you can't avoid watching right knno. a lot of times people tell you to sit tight and it's very hard to do but i think this is a sit tight moment. what we're talking about is the chairman of the federal reserve saying he thinks he sees signs the economy is healthy enough to go out on its own, as erin said, get rid of the training wheels. that is a huge positive. the other thing to remember, both stocks and bonds, interest rates are spiking right now. that's another thing going on. both the stock market and the bond market very overvalued, you could argue. especially the bond market.
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speculators are blowing out of this market right now. i would sit tight and watch that happen. if the economy is back on strong footing, as ben bernanke is suggesting, then we'll be in good shape with the stock market over the coming months and especially years. >> erin, do you think the market is going to stabilize? >> that's the big question. you have one of the biggest bond investors in the world so obviously he has a vested interest on the bond side of things. but bill gross saying i think the fed is too confident. they can wheel all of this back and there lwill be a pause and the fed will keep moving ahead. the fed has never tried this sort of thing before and because they've never done this before, they've never actually had to unravel it and pull it back before. but andy said it right. if the economy really is on solid footing, ultimately the market will go back to doing what it always does, which is track the economy, because corporate profits are so linked to the economy.
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interest rates are spiking. you've seen that in mortgages. for people at home if you have a mortgage and you're looking at buying a home or able to do the refinancing, you want to seize the moment before interest rates start to move sharply higher. >> andy, what do you make of the fact that interest rates are up and the place of gold has plummeted? >> you have to look at yesterday as a turning point and we've been waiting for this for years. the fed has been injecting $2.5 trillion cumulatively into the market since 2008. five years. we kept waiting. at some point they're going to turn and say go on your own, we'll take the training wheels off and you guys can do it on your own. gold, people were speculating that this was a safe harbor. now that the u.s. economy perhaps is doing better, selling off gold, the dollar is rising, there's all sorts of turmoil on the markets right now.
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of course the stock market and interest rates are the two big ones for people watching at home. >> lastly, erin, what's the best advice you would give to my viewers and your viewers later today on what they should be doing with their money right now? >> i would say it's a tough one. i would say don't react too quickly. i only say that, jake, because we've known this is coming. the fed has already said very clearly when we start to see things getting better, we're going to wheel this back. we're not going to move interest rates that the fed controls until 2015. all the fed has done has come out and said things are getting a little built better ait bette going to do what we said we were going to do. to change your investment strategy based on that probably wouldn't make a lot of sense. if someone who has thrown all your money into bonds, maybe you should get some advice and think about changing it. >> the bond market, long bond,
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not a good place to be. the home market still has room to climb to the up side, i think. >> thank you both so much. >> coming up in the pop lead, as tony soprano used to say, those who want respect give respect. today we'll pay our respect to the james gandolfini. a sign of him you've never seen before. >> and we don't negotiate with terrorists, right? why the u.s. might be willing to bend the rules to save the life of a u.s. soldier. tony used priceline to book this 4 star hotel. tell 'em why. free breakfast with express deals, you can save big and find a hotel with free breakfast without bidding. don't you just love those little cereal boxes?
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welcome back to "the lead." it's time for our pop culture lead. last night america lost an icon and a family lost a father. actor james gandolfini collapsed while on vacation in italy. the cause of death is thought to
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be a heart attack. of course his work runs deeper than the portrayal of television's most loveable psychopath. as an actor he made a name for himself from broadway to the silver screen. but he also had another passion, working with soldiers, those facing the fightov overseas and also those facing the fight here at home. >> once you enter the family, there's no getting out. >> and today the family is in mourning. >> he'll be remembered for winston or "wild stuff." but for those americans who have faced the true fear and real drama of war, gandolfini was an
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inspired listener. >> we've got to take them off the battlefield and get them the help that they need. >> there's a lot of confusion about post traumatic stress. what are some of the physical manifestations? >> in his hbo documentaries "war torn" and "alive," soldiers told their stories. >> they say you're alive but you feel empty. >> give it time. >> dexter pits was wounded in baghdad in 2005 and interviewed by gandolfini. >> i was just an infantryman. he took my story and gave me the spotlight. that's something a lot of soldiers doesn't gn't get the opportunity to do.
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>> and he lent a personal ear as well. >> he gave me his cell phone number and said if you ever want to talk, give me a call. >> he volunteered extensively with the namesake organization, as well as with the u.s.o. gandolfini made several trips overseas, including to afghanistan just last year. >> i always like coming out here to the bases. i think it's a good change of pace for the guys and the ladies. >> and unfortunately for those who already see so much loss, today they must grieve another friend gone. >> it still hurts to hear the news. i didn't want to believe it when i heard it. it seems like it always the good ones that go. >> good-bye. >> thank you. >> hash tag you're it. what's your famous gandolfini moment? mine was his fight to the death
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in the fm "true romance." joining me now, a director from a sister company of cnn, you and i were e-mailing about another project and all of a sudden you heard this terrible news. you told me gandolfini was this incredibly warm person, nothing like the often gruff guy he played. tell me about him. >> so many people are remembering him as tony soprano. i'm always going to remember him as the man of such goodness who wanted to take on the perils of the men and women serving overseas. his he lessened to the stories and wanted to bring them back to americans. so many more people were paying attention to him as an actor and he was working to bring attention to the men and women
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that serve overseas. >> where did this fashion for military come from? >> he went to of u.s.o. tours. and it was a catalyst for "alive day memories." he wanted the stories that people were telling him on the u.s.o. tours to reach an american audience. he wanted people to stand up and pay attention. and he wanted to put his fame and his passion to good use and make sure those stories were heard. >> and you could see his warmth with the soldiers in the clips from these movies that you directed, matthew. is that what he was like in real life? was he a warm, embracing person? >> jim connected to the people around him in such an intense and emotional way. he was interested in what people had to say. he listened. i think it's what made him a great actor. i think it what made him great
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producers. it wh it's what made him want to tell these stories. if he was speaking to you, if you were a filmmaker, collaborator or soldier or the guy next to him on the subway or in the car, he listened intently and he was so warm. his friends and family and community at large, we all connected with something so good in him. and you were working on a project with him about learning disabilities and incarcerated people. >> coming up, we have breaking news on the hillary clinton 2016 front. that's our politics lead coming up next.
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welcome back to "the lead." we're breaking some news in our politics lead now. she's not even officially running yet but republicans are already rising up to stop hillary clinton from trying to take the white house in 2016. erin mcpike joins us. hillary clinton hasn't even made any moves to run in 2016 but republicans are already raising money to stop her in her tracks? >> they are.
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just as support starts piling up for a second hillary clinton presidential campaign, naturally the opposition forces are marshalling their resources to keep up. the republicans are concerned with a clinton corn onation in 2016 and with good reason. both claire mccaskell and kirst kirsten gi kirsten gillibrand gave their support. >> i'm part of a really big group of people that really want her to run. and it seems like coming up publicly and stating the obvious that we all want her to run is an important thing to do right now. >> mccaskell said clinton called her after she announced her report but wouldn't discuss the conversation. she said the former secretary of state is still in the process of
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making the decision. now kirstin gillibrand is also urging hillary clinton to run. >> i am personally urging hillary clinton to run. i told her i'd support her in every way. >> so cue the republicans. opposition to another clinton campaign is building, too. this is, a web site that america rising has built as a one-stop shop for hillary haters. and look at these. these are the fund-raising e-mails the pac is end being out to a randomized group of donors today. this is what we call message testing. they want to see which hillary attack sticks by which raises them the most money.
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one of them is a personal note by the person in charge of the pac. he said he learned that the romney campaign started way too late so he's tugging at gop donor's hart strings by getting them to cough up cash now so they're not flat footed by hillary later. the second is your standard hillary is no good e-mail. it stokes republican fierce abo -- fears about liberalism and big government. it says "the clinton machine section treemly powerful we've seen it in action time and time again. we need to stop it before it is too late. and the third scandal has to do with benghazi. they think that might raise them some money. i also learned there will be some google ads on top of this already in 2013. >> knowing what you know about secretary clinton, do you think this will have the effect of dissuading her in any way or the
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opposi opposite? >> that's kind of a joke, don't you think? we know she already has the fire in the belly. i would think this would make that fire crackle some more. we're talking about the clintons. don't expect this kind of thing to go unanswered for too long. on that note, keep watching the space because we're going to have more news before too long. >> great work. thank you very much. >> the battle over the new immigration law is getting heated in washington but is it too late? when we come back, the last-minute run for the border. and i'll talk to one senator who is trying to stop a backlash in his own party.
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save the immigration deal. four years, that's how long american soldier bo has been in enemy hands. >> and the sports lead, a jogger find as man dead in an industrial park outside boston, murdered. what does that have to do with a new england patriots player? well, that's what police want to know. we begin with the politics lead and hold the phone, congress could actually be on the verge of getting something accomplished. we learned just a couple of hours ago that a bipartisan group of senators managed to work out a deal to help garner support for the immigration bill. the proposed amendment would double the number of border agents along the southern border of the u.s. to nearly 40,000 and add 700 miles of security fence along the mexico border and only once that happens could 11 million immigrants live hearing illegally move forward to citizenship.
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we'll have to wait and see if the bill goes far enough to soothe concerns, especially since speaker john boehner seems reluctant to even bring it to the house floor. and with all this talk of immigration reform, more and more people are making a run to the border hoping to get into the u.s. before it's too late. the biggest rhetorical hurdle in passing an immigration reform bill is the lack of literal hurdles on the border, and now there's a fear that people are flocking to cross the boarder with u.s./mexico illegally because of the improved chance of becoming a legal residenresi. border patrol agents have apparently arrested some with that notion. >> the reports i've gotten from some of my contacts have said that the number of attempted crossings has increased. is that accurate?
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>> this particular year, yes, sir, we have seen an increase of attempted entries. the reasons and motives behind that are varied, some of which is hearing sequestration, some of which is hearing immigration reform and some of it is hearing they just want to come and be joined with their feelings. >> arrests of people crossing the border are up this year. >> arrests were up this year, right? >> approximately 13%. >> the department of homeland security says apprehensions are a key indicator of the flow of undocumented immigrants across the border. so as apprehensions go up, the thinking that the number of those not caught also is rising. but these new undocumented
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immigrants will not benefit from any bill. anecdotally i've heard there are people making their way across the border illegally who are doing so because they hope they will be able to become citizens because of this immigration reform bill. you have heard those stories from arizona or elsewhere? >> as far as the increased crossing of the border, i think part of it has to do with the economy, part of it has to doo do with sequestration. the anyone who came after december 31st, 2011 will not be eligible for this legalized status and eventual path to citizenship. >> and a key part of the immigration bill is the government has to prove the borders are more secure before any undocumented immigrants are put on a path to citizenship as marco rubio told dana bash today. >> nobody who has violated immigration laws will become a legal resident, unless all five
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aspects happen. >> but an independent review of the bill by the nonpartisan congressional budget office said it will only reduce illegal border crossings by 25%. so now senators are adding an amendment to double the number of border patrol agents and complete 700 miles of fence along the u.s./mexican border. and i'm joined by a key republican senator of tennessee. he brokered the deal expected to help gain support for this gang of eight immigration bill. thank you for joining us. >> good to be with you. >> more border patrol agents, 700 miles of new fence. but what about those who
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overstay visas? what does this amendment or this bill in general do to stop that kind of illegal immigration? >> right. so prior to a green card, jake, which is ten years out, the exit visa program has to be fully in place. you're exactly right pip mean, that's been a big problem. the measure does have some interior security issues to go along with that, but that is the fourth trigger, if you will, in this bill. it does provide that the exit visa system has to be fully in place. and i thank you for bringing that up because that's been a flaw in the past. >> this agreement is meant to shore up republican support. i want to play something that your republican colleague senator jeff sessions said a while ago. >> we have to study this amendment. i don't know what's in it and what it will accomplish but it doesn't seem to me to accomplish many of the key issues that i've talked about all along. >> are you still trying to convince senators like sessions or do you think some of just
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lost causes at this point? >> you know, jake, on every issue you get a sense of those people that are trying to find their way to support a piece of legislation and those people that, you know, candidly regardless of what's in the bill likely are not going to support it. and so, you know, not to speak to specifically to the senator, you know, we've got a pretty good sense of those people who would like to see us solve this immigration problem but want to see the border secured and that's why we put this effort together. i do hope senator sessions will read this legislation. it's going to be available in the next few hours. it's being vetted right now on both sides. but it really does. i mean, for those people whose issues, and he may be talk about others, those people whose issue has been border security, i just cannot emergency how you could see something being put in place that is stronger than what this legislation will call for. >> how many future undocumented
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workers do you think will be able to get into this country under this bill with this new amendment? do you have any sort of number? >> so i think the border will be secure. there will be always -- i mean, i think in any country, jake, you have people who make it in through the country. there's all kinds of ways who are have done it. this is focused on the southern border, not on the northern border. but one of the key elements is to improve our legal immigration component. that's one of the reasons we have so many undocumented workers today. people have come here, they want to be here to work in this great nation and we haven't really had the appropriate levels and ways for people to come in legally. so the bill goes a long way -- not our amendment, but the base bill goes a long way toward dealing with that issue. candidly, i'd like to see us have even more legal immigration and candidly i'd like to see a little bit more interior
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security. if we're able to pass this amendment and pass the bill out of the senate, it's my hope the house can make improvements. that's why we have two bodies here. hopefully that will occur. by the time if certainly comes back from conference, we'll have a bill that's even better than the one that leads the senators. >> how many republican senators you think will vote for this amendment and the bill be in general if it's part of it? >> i think, you know, jake, i think a good number, okay? i kind of hate to project specifically how many. i know that we've gotten a very good response. we've added co-sponsors to the amendment itself. but i think, again, this has to sand the test of time. people will be looking at it over the weekend. many of the senators have seen summaries. but i think we're going to garner a good deal of support and i think that will add a lot of momentum to this bill. and solve the problem that so many people in tennessee and
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across this country have, which is the issue of dealing with border security. we haven't had those inputs in the past. and as you know, as you read out on the first of the program, those inputs all have to be in place before green card status can be achieved. >> with this deal in place, are you willing to place chances that immigration reform will not only make it through the senate but through the house? >> you know, jake, i found in life that the best way to be successful is really to focus on the task at hand and do it in the best way that you can. right now we obviously need to close this amendment out, get it on the floor, get it voted on. i do think that if we can pass this amendment with these tough, tough, tough border security measures, i think it does add a lot of momentum on the house side. i think it adds to the probability of something passing out of the house, but i would never predict what might happen in another body. >> all right, senator bob
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corker, republican of tennessee, thank you so much. >> thank you, jake. >> coming up, an person p.o.w. for the freedom of five gitmo prisoners. is the taliban willing to swap? and the sports lead. he's a high profile nfl star pursued not for his autograph right now but for something else about a murder. things can become major victories. i'm phil mickelson, pro golfer. when i was diagnosed with psoriatic arthritis, my rheumatologist prescribed enbrel for my pain and stiffness, and to help stop joint damage. [ male announcer ] enbrel may lower your ability to fight infections. serious, sometimes fatal events including infections, tuberculosis, lymphoma, other cancers, nervous system and blood disorders, and allergic reactions have occurred. before starting enbrel, your doctor should test you for tuberculosis and discuss whether you've been to a region where certain fungal infections are common. you should not start enbrel if you have an infection like the flu. tell your doctor if you're prone to infections, have cuts or sores, have had hepatitis b,
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welcome back to the lead. it's time for the world lead. he's the only american soldier in the taliban's hands. there's new hope that this
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soldier could finally be released. the state department says peace talks will likely begin in the coming days, even though afghan president karzai is throwing a wench in the works. in the country of qatar, they declared themselves the islamic emira emirate. it's a rebranding. karzai thinks they're trying to present themselves as an alternative government. the u.s. expects the taliban to again raise the idea of trading taliban prisoners at guantanamo bay for sergeant bergdahl. no decisions have been made as bergdahl waits to learn his fate. >> get me, release me, please,
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i'm begging you bring me home, please. please bring me home. >> that is bowe bergdahl, the only man in enemy captivity. he just turned 27 but four years of his short life have been held in captivity. the idaho native of captured near the afghan/pakistan border after just two months on the battlefield. since his capture on a few propaganda videos proving he's alive have trickled out. be bergdahl's family is suffering. >> thanks to you our pows have not been forgotten. so help me god y will not be
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forgotten and you will come home alive. >> i personally appeal to the generals, our family is counting on your professional integrity and honor in support of our son. >> in that video, he had a long beard and used phrases in arabic to better relate to the enemy. >> they had become frustrated by the u.s. government. they felt the government was foot dragging and decided to speak out themselves. >> in e-mails to his family obtained by the late michael hastings and published by "rolling stone" magazines, bergdahl made known his disillusion of the war. >> his first letters home were very positive. but then he said the e-mails became much darker. his son seemed to feel that the
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military was not the peace corps was guns ideal he had held up. >> but this month his family received a different kind of letter, believed to be from their son delivered via the red cross. >> that brings new-found hope. that's like sitting around a camp fire that's going out and all of a sudden you find that one more log. >> so the family and friends of bowe bergdahl wait. they hope to trade the yellow ribbons on their trees for the son they represent. a spokesman of the family says they're encouraged of the news of the negotiations and know their son has not been forgotten. >> coming up, facebook has a new feature that will forever change the way you use your instagram app. and in sports, some david beckham took the phrase celebrity crush a little too literally and it almost turned
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welcome back to "the lead." in money news, anything can you do i can do better. that sums up the war between facebook and twitter. facebook revealed a new upgrade today to instagram, the app that makes pictures look vintage and hipsterish. it will led you report shorcord 15-second videos that can you share with your friends. sound familiar? it almost exactly like the vine app that was recently purchased by twit ptewitter.
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confused? well, maybe this will help. so this is my vine account. i'm using it to introduce the segment but it's vine so it's only six seconds. whereas on instagram video you have more time and you can also adjust the color. or even take out the color, as we did in that one. but there are all sorts of color hughes can you use for the instagram app. let find out a lot more about this have the street columnist rocco pandola. rocco, is this facebook's way of trying to take on twitter, a clash of the tech titans? >> i hate saying negative things about facebook because i have a little crush on sheryl sandberg and i respect everything she's done and i respect zuckerberg. here's a guy that started all this madness out of his dorm room, but, yeah, it is a copycat. it's not all that different from what we were talking about a couple of weeks ago with apple
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doing the pandora copycat. it's like you did the six second thing so we're going to do the 15 second thing. we're going to let you edit it a little bit more. it's unfortunate because as a platform, facebook has one billion users and it needs to get better as a platform. it needs to continue along whatever vision zuckerberg had when he started this thing, but that's not what he's doing. he copied twitters on hash tags, copied four scores on places, he's copying twitter on vine and he did the thing with the facebook home app and had an htc phone that was branded with facebook. they both flopped. he's following the crowd and doing very expected things in lots of ways and i think in the long term that's a negative thing for the company. >> rocco, do you think since the instagram videos are longer, 15 seconds as opposed to the six seconds for the vine ones that that will be more appealing to
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advisers? >> quite possibly. now, for consumers, i still haven't been able to do my first instagram video. it's still processing. it might be the iphone's fault, the point is 15 seconds versus 6, it makes vine a lot faster. i was able to put one up on vine instantly but instagram takes longe longer. advertisers are going after low hanging fruit. you're going to go to the place with the most size and the most scale, the billion users i referenced. but is facebook building a long-term proposition, something that will be multi-generational like television has for advertisers? i don't feel like they are. if they were, we wouldn't have seen them roll out 15 million different advertising products and then have to stream it down here in the last couple of weeks. if they really knew what they were doing for advertising, if they really knew the impact it could have for clients, they would have had just two or three products, they would have been
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spot on and they would have went with that. but they're just throwing a bunch of stuff against the wall and saying let's figure out what's going to work. >> rocco, thanks for joining us. >> thanks, jake. >> he's one of the biggest names in the nfl and he's at the center of a murder mystery. how the investigation is intensifying minute by minute. [ male announcer ] with wells fargo advisors envision planning process,
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...and we inspected his brakes for free. -free is good. -free is very good. [ male announcer ] now get 50% off brake pads and shoes at meineke. now it's time for the sports lead. there is a murder mystery unfolding in massachusetts and an nfl far is smack dab in the middle of the mess. police have been searching the home of aaron hernandez, looking for clues that could help them find out what happened to oden lloyd. the victim's uncle says lloyd and hernandez knew each other. hernandez's attorney issued a statement saying there would be no comment. we've learned hernandez is
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facing a civil suit after an incident in a club. and david beckham turned up at a chinese university in shanghai and triggered a stampede that injured five people and even some police officers ended up at the bottom of the pile. >> and they are the two most exciting words in sports, "game seven." all anyone is talking about is a sweaty head band. when lebron lost his head band in game six, it was like clark kent taking off his glasses. he scored 16 points in the fourth quarter and miami's dramatic overtime win. rachel nichols got the big scoop. will he wear it or won't he? >> dwyane wade said i'm going to talk him into not wearing it in game seven. can you give us the exclusive here? >> i don't know. i don't know.
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it's a very tough decision. i got to decide if i'm going to wear it or not wear it, but i think i will. >> tipoff is tonight at 8:30 eastern and the heat have home court. >> trash talking in sports used to be considered an art, homemade a ali. chris christie is banishing trash talking in high school sports. some critics, saying the state has no business in suppressing free speech, on the court or not. #you're it, we asked you for your favorite james gandolfini moments. "when christopher tells tony about adriana. perfect mix of rage and
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compassion. >> and "the a.j. suicide rescue. culmination of a lot of things there. we will miss you, james gandolfini. that's it for "the lead." i turn you over to jim acosta who is filling in for wolf blitzer in "the situation room." jim? >> thanks, jake. happening now, wall street's worst day of the year, fears of what the fed will do or more precisely won't do send the dow down more than 350 points. >> it's called a border surge, doubling the number of agents and doubling the 700 mile fence. and game on. as the heat and spurs get ready to decide the nba championship tonight, lebron james talks to cnn's rachel nichols. wolf blitzer is off today. i'm jim acosta and you're

The Lead With Jake Tapper
CNN June 20, 2013 1:00pm-2:01pm PDT

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